Josh Levy

Ultimate Finance to increase funding following H1 bridging growth

Ultimate Finance has revealed that it has provided nearly £60m of bridging finance since it launched the product in 2016.

In H1 2019, the SME funding partner facilitated £15m of bridging loans, which saw the average value of new deals increase by over 20% compared with the same period in 2018.

The bridging loans have largely come from within the residential and commercial property markets, while it has also seen a strong increase in demand for development exit funding.

Ultimate Finance has reported its strongest H1 to date, with £750m provided to SMEs across its full suite of asset-based lending products.

Josh Levy, CEO at Ultimate Finance (pictured above), claimed that the lender was now committed to increasing its funding.

“Over the last six months, we have significantly strengthened our offering in the bridging space and will be increasing the size of our team and market presence. 

“We continue to build on the success of our bridging offering, supporting our clients and introducers with our flexible approach that recognises the need to execute quickly and efficiently. 

“We expect market demand to remain strong and are committed to increasing our funding in line with client need. 

“We’re confident that the second half of the year will be even more successful than the first.”

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